Corporations Act 2001

CHAPTER 2D - OFFICERS AND EMPLOYEES  

PART 2D.1 - DUTIES AND POWERS  

Division 4 - Powers  

SECTION 198B   NEGOTIABLE INSTRUMENTS (REPLACEABLE RULE - SEE SECTION 135)  

198B(1)   [ Execution of negotiable instrument]  

Any 2 directors of a company that has 2 or more directors, or the director of a proprietary company that has only 1 director, may sign, draw, accept, endorse or otherwise execute a negotiable instrument.

198B(2)   [ Directors may determine different execution]  

The directors may determine that a negotiable instrument may be signed, drawn, accepted, endorsed or otherwise executed in a different way.